LME copper sets all-time high near $14,572 a tonne on January 29

LME three-month copper reached a record of about $14,572 a tonne on January 29, 2026, according to KH Metals, which attributed the move to strong buying from China tied to data-center and growth expectations. Barchart reports a slightly lower January peak of $14,527.50, so the exact high is approximate. This record stood until the August 2026 highs.

LME record of about $14,572 a tonne on January 29, 2026 (KH Metals)
Barchart puts the January peak at $14,527.50, a difference of about $45
Buying from China and data-center demand expectations cited as drivers

HG around the story · hourly24 h reaction ▼ 3.29%

Moves this explains

HG+5.83%Jan 28 · Copper rose 5.83% to a record: LME three-month copper touched $14,527.50 a tonne, the largest one-day gain since 2008 according to Benchmark Minerals (30 Jan 2026), before closing at $13,720.50. Benchmark says the move started on the Shanghai Futures Exchange before the LME opened and links it to the debasement trade and dollar concerns. The same session saw crude oil +3.56% and natural gas +4.13%.

Source

KH Metals

Jan 29, 2026

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